General Notes For Wednesday [24/1/2024]:
KLCI managed to rebound strong back towards the 1496 points region today with an overall positive market sentiment. Daily trading volume also sustained around the 5.1 billion mark, which is pretty good here.
Main stocks that showed strong buying momentum would be the likes of WIDAD, YNHPROP, LEFORM, ARTRONIQ, SCABLE, TANCO, JSB, MERSEC, SRIDGE, HANDAL, RGB, and E&O. All of which were able to sustain their rallies throughout the day on the top volumes list.
$ARTRONIQ (0038.MY)$ rebounded quite well today as it managed to breakout strong all the way towards the RM 0.415 regions with huge volume here. Although it faced some selling pressure in the evening, its closing price of RM 0.36 was still a pretty decent one.
For now, the support can be at RM 0.33 on the hourly charts and as long as able to hold above this region, could rebound back towards and beyond the RM 0.415+ major resistance levels once more.
Will be monitoring ARTRONIQ closely here.
$MERSEC (0285.MY)$ on the other hand also performed quite well as it managed to breakout back towards the RM 0.545 regions with good volume too. Towards the end, it was met with some profit taking activities which saw the stock close back towards the RM 0.48 regions.
For now as long as able to hold above its RM 0.46+ immediate support levels, could rebound back towards and beyond its RM 0.545+ major resistance levels soon for a stronger rebound back towards the RM 0.60+ regions soon.
Will be monitoring MERSEC closely here as it's one of the stronger and healthier rebounding stocks here.
$MINOX (0288.MY)$ since its IPO last year October, had been retracing and consolidating over the past few months here, and recently formed a new low at RM 0.235, which seem to be quite well supported.
Today, it managed to rebound quite well back towards the RM 0.26+ regions with decent buying momentum and volume. This came after over 1 month of selling activities from the RM 0.30+ regions.
For now if able to sustain, could be breaking out back towards its RM 0.29+ regions soon in the coming days. Will be monitoring MINOX closely here.
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